JohnHarry66

JohnHarry66

Gold prices maintain a strong buy tone at the beginning of the week, although they’re now deflating a tad to the $3,470 zone per troy ounce. The precious metal's continued rise is strongly supported by expectations of Fed rate reduction in the second part of the year, while the US Dollar's offered attitude also contributes to the increase. From a technical...

JohnHarry66 Updated 

The Gold price trades in negative territory on the day. The bullish tone of the precious metal remains intact in the longer term, with the price holding above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is supported by the 14-day Relative Strength Index (RSI), which stands above the midline near 60.50. This displays the...

JohnHarry66 Updated 

The daily chart for the XAU/USD pair shows it stands at its highest in over a month, and is pressuring intraday highs. The pair is also advancing for a third consecutive day above mildly bullish 20 and 100 Simple Moving Averages (SMAs). The Momentum indicator remains flat at around its 100 line, but the Relative Strength Index (RSI) indicator picked up pace and...

JohnHarry66

GBP/USD closed above the 100-day Simple Moving Average (SMA), currently located near 1.3430, after briefly dipping below that level on Wednesday. Additionally, the Relative Strength Index (RSI) indicator on the 4-hour chart holds above 50, reflecting sellers' hesitancy. On the upside, 1.3540 (Fibonacci 61.8% retracement of the latest downtrend) could be seen at...

JohnHarry66

EUR/USD continues to trade in positive territory above 1.1650 in the American session on Thursday. The US Dollar struggles to benefit from the upward revision to Q2 GDP growth and better-than-expected Jobless Claims data, allowing the pair to hold its ground.

JohnHarry66 Updated 

From a technical point of view, the daily chart shows that the XAU/USD pair advances above all its moving averages, with the 20 Simple Moving Average (SMA) slowly grinding higher at around $3,357.20. The 100 and 200 SMAs maintain their upward slopes below the shorter one, in line with the dominant bullish trend. Finally, and given that the fresh weekly peak barely...

JohnHarry66

EUR/USD regains the smile and manages to partially reverse Monday’s deep sell-off, retesting the 1.1670 zone in response to the renewed downside pressure on the Greenback amid steady concerns over the Fed’s independence. Investors, in the meantime, gear up for the release of key PCE data toward the end of the week and the critical labour market report next week.

JohnHarry66 Updated 

Nothing seems to have changed for Gold, technically in the short-term, as the bullish potential remains intact so long as the 14-day Relative Strength Index (RSI) stays above the 50 level. The leading indicator is currently edging lower to near 55.50. Buyers also stay hopeful amid a Bull Cross, with the 21-day Simple Moving Average (SMA) having closed above the...

JohnHarry66 Updated 

GBP/USD is back in the green, having regained 1.3450 in the European session on Tuesday. The pair shrugs off a risk-off mood as markets digest US President Trump's fresh attacks on the Fed’s independence, which keep the sentiment around the US Dollar undermined ahead of data.

JohnHarry66 Updated 

Resistance lines up at 1.1788 (July 24), prior to the YTD ceiling at 1.1830 (July 1). If the pair clears the latter, it could then embark on a potential visit to the September 2021 high at 1.1909 (September 3), which comes just shy of the 1.2000 threshold. Southwards, temporary support sits at the 100-day Simple Moving Average (SMA) at 1.1488, followed by the...

JohnHarry66 Updated 

From a technical point of view, the daily chart for the XAU/USD pair offers a neutral-to-bullish stance. The bright metal develops above all its moving averages, with the 20 Simple Moving Average (SMA) lacking directional strength at around $3,348.20. The 100 SMA, in the meantime, is partially losing its bullish strength, holding at around $3,319. Technical...

JohnHarry66

The Relative Strength Index (RSI) indicator on the 4-hour chart declines toward 50, reflecting a loss of bullish momentum. However, GBP/USD continues to trade comfortably above the 100-period and the 200-period Simple Moving Averages (SMAs). On the upside, 1.3540 (Fibonacci 61.8% retracement of the latest downtrend), aligns as the first resistance level ahead of...

JohnHarry66 Updated 

Gold makes a sharp U-turn following an earlier drop and trades at a fresh weekly high above $3,370 on Friday. The benchmark 10-year US Treasury bond yield declines sharply on Fed Chair Jerome Powell's dovish tone at the Jackson Hole Symposium, helping XAU/USD push higher. Xauusd signal sell 3369 Support 3360 Support 3350 Target 3330 Sotp loss 3380

JohnHarry66

The US Dollar found fresh legs throughout the first half of the last week but lost them on Friday, following Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium. The EUR/USD pair closes the week well above the 1.1700 mark, recovering from a Friday weekly low of 1.1583.

JohnHarry66

The Relative Strength Index (RSI) indicator on the 4-hour chart edges higher but remains below 40, suggesting that GBP/USD's bearish bias remains intact despite the latest recovery attempt. On the upside, the 100-period Simple Moving Average (SMA) and the 200-period SMA form a strong resistance area at 1.3425-1.3440 before 1.3460 (Fibonacci 50% retracement of the...

JohnHarry66 Updated 

The overnight swing low, around the $3,325 region, now seems to protect the immediate downside ahead of the 100-day SMA, currently pegged near the $3,316-3,315 zone. Some follow-through selling below the $3,311 area, or a three-week low touched on Wednesday, will be seen as a key trigger for the XAU/USD bears. The subsequent fall could drag the Gold price below...

JohnHarry66

EUR/USD resumes its downward bias on Thursday, retreating to multi-day troughs and putting the 1.1600 support to the test. The pair’s pullback comes on the back of the marked data-led rebound in the US Dollar prior to the key speech by Chief Powell at the Jackson Hole Symposium on Friday.

JohnHarry66

USD/JPY has been trading sideways in a range between 146.22 and 148.52 from almost three weeks. The pair trades close to the 20-day Exponential Moving Average (EMA) around 147.56, indicating a sideways trend. The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting indecisiveness among market participants. The pair would see...